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Mag Mile Capital Closes $163.5 Million in Total Debt on Behalf of HKB Investment Group Structuring Additional $90 Million for 10 Hotel Assets Across Multiple States
TMX Newsfile· 2026-03-03 14:00
Core Insights - Mag Mile Capital successfully arranged and closed a total of $163.5 million in financing over the last three months, including a $90 million refinancing for a 10-asset hotel portfolio owned by HKB Investment Group [1][4]. Group 1: Financing Details - The financing included a $90 million portfolio refinancing for a hotel portfolio across Georgia, Florida, Ohio, and Indiana, with an average Loan-to-Value of 62.5%, indicating a total asset value of $265 million [1][11]. - The refinancing was structured to replace existing high-cost debt, reduce borrowing costs, and provide long-term capital stability for HKB's growth strategy [2][4]. - The transaction was completed in less than 60 days, showcasing efficient collaboration among all parties involved [5]. Group 2: Portfolio Characteristics - The portfolio consists of select-service and full-service hotel assets with strong brand affiliations, including Intercontinental Hotels Group, Marriott, Choice, and Wyndham [2]. - The assets are strategically located in strong secondary and tertiary markets, enhancing their investment appeal [2]. Group 3: Company Expertise - Mag Mile Capital demonstrated expertise in structuring large, multi-state portfolio refinancings, requiring complex underwriting and coordination across multiple brands and legal processes [3][6]. - The company leveraged deep institutional lending relationships to secure competitive terms and ensure execution certainty for HKB Investment Group [4][6]. Group 4: Client Impact - The refinancing provided HKB Investment Group with improved cash flow, reduced interest expenses, and capital for future property improvements, enhancing long-term property values [4][6]. - HKB Investment Group manages over half a billion dollars in real estate across more than 50 properties, with a focus on acquiring and managing hotel assets [10].